US-Based Bitcoin Hedge Fund To Cough Up $2.5 Million For Running A Ponzi Scheme

A Federal Court in New York has passed a serious verdict that’s about to make fraudsters in the crypto world lose sleep for now on. A CEO of a hedge fund, together with the hedge fund entity itself, is to pay upwards of $2.5 million for luring investors into a con net and defrauding them of their money. Apparently, the investors expected the hedge fund to do what hedge funds do best and multiply their money. That’s NOT what happened.

The Plot

The said CEO, Nicholas Gelfman, along with...

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